Cormark Equities Analysts Increase Earnings Estimates for Cargojet Inc. (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Stock analysts at Cormark raised their Q2 2024 EPS estimates for shares of Cargojet in a report issued on Tuesday, April 30th. Cormark analyst D. Ocampo now forecasts that the company will earn $0.87 per share for the quarter, up from their previous estimate of $0.71. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Cormark also issued estimates for Cargojet’s Q4 2024 earnings at $1.24 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.92 EPS, Q4 2025 earnings at $1.33 EPS and FY2026 earnings at $4.33 EPS.

Cargojet (TSE:CJT) last announced its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.88 by C($1.02). The firm had revenue of C$221.90 million for the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a net margin of 4.25% and a return on equity of 4.62%.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their target price on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday. ATB Capital upped their price objective on shares of Cargojet from C$155.00 to C$160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Canaccord Genuity Group lifted their target price on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. BMO Capital Markets upped their price target on shares of Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 27th. Finally, Scotiabank increased their price objective on Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Stock Down 4.8 %

TSE:CJT opened at C$117.08 on Thursday. The business’s fifty day moving average price is C$112.32 and its 200 day moving average price is C$108.21. The firm has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 53.71 and a beta of 1.03. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 101.87. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$125.44.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.315 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, March 19th. Cargojet’s dividend payout ratio (DPR) is 57.80%.

About Cargojet

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.